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OTTAWA - Former finance minister Jim Flaherty was remembered for many things Thursday - his green ties, his compassion, his Irish wit and guiding Canada through a global economic meltdown.

Flaherty's sudden death at his Ottawa condo from a heart attack was met with shock and disbelief and praise for a man whose political legacy was capped by steering the economy through troubled waters for eight years.

In a rare step, the House of Commons suspended proceedings when news of his death reached Parliament Hill.

With the daily question period on hold, opposition MPs rose from their seats and crossed the floor to Conservative benches to console one another.

Some wept. Others hugged. But most of all the partisan vitriol that has cast an ugly pall inside the Commons was silenced by a united show of respect for Flaherty, 64, who quit his post last month to start a life outside politics.

The Canadian flag snapping in a brisk wind atop the Peace Tower was lowered. G-20 finance ministers planned a memorial in Washington.

Other tributes were in the works for the former Ontario finance minister who counted among his many major federal achievements the tax-free savings account, stricter mortgage rules and the elimination of the penny.

Premiers, provincial politicians, city mayors, the U.S. ambassador and countless others flooded social media and media in-boxes with condolences

A visibly shaken Prime Minister Stephen Harper assembled his caucus to pay tribute to a man known for his sunny personality, mischievousness and self-deprecating humour until a rare skin disorder took a toll on his health in recent years.

"Today is a very sad day for me, for our government and for all of our country," Harper said, his wife Laureen at his side dabbing at tears.

"This comes as an unexpected and a terrible shock to Jim's family, to our caucus and to Laureen and me," the prime minister said.

"Jim will be sorely missed, not only by his many friends on both sides of the House I know particularly his friends in this caucus among whom he was held unanimously, a great combination of great respect and affection."

When Flaherty resigned last month, he said he was "happy" to report that he was on the road to a full recovery from a disorder called bullous pemphigoid, an acute condition that causes blistering.

The potent steroids used to treat the disease caused his face to bloat and blotch, and sometimes made it difficult to speak and painful to walk.

But he persisted and promised to balance the budget by 2015 - a deficit his government created to combat the 2008-09 worldwide economic collapse.

NDP Leader Thomas Mulcair could barely keep his feelings in check.

"He's a good person. I had a chance to know him before being in federal politics and he's a strong, tough character. He's always been very devoted," Mulcair said, his lips quivering and tears welling.

Liberal Leader Justin Trudeau said Flaherty was a dedicated parliamentarian with a strong social conscience.

"He was a proud Canadian and showed continued devotion and commitment to his country over many years. This is a loss to the entire family in the House of Commons."